Scalable Capital, a German broker, has announced that its account holders can now use major AI platforms like ChatGPT and Claude for trading and portfolio analysis. This service, touted as a first for European banks, complements existing app and website options for accessing accounts and includes various security measures.
Co-CEO Erik Podzuweit described this offering as a “first step” toward broader AI adoption for customers, particularly as they plan to integrate such capabilities directly into their app. He noted that many users may be cautious about allowing AI to handle their portfolios, making it crucial to build trust.
Podzuweit speculated that utilizing AI might lead to better investment returns, although its effectiveness remains to be evaluated. Founded in 2014, Scalable Capital has over a million clients and manages more than €60 billion in assets. The company operates primarily in Germany and Austria, with a presence in Italy, Spain, France, and the Netherlands, enhancing competition in the German banking sector.
